Sarah's Feed
Oct 29, 2013

Nextdoor attracts $60 million from Tiger Global, Kleiner Perkins

SAN FRANCISCO (Reuters) – Nextdoor, an online social network for neighbors, said it has attracted $60 million from early backers of technology titans Google, Amazon and Facebook.

The new investment, led by venture firm Kleiner Perkins Caufield & Byers and investment firm Tiger Global Management, values Nextdoor at more than $500 million, said a person familiar with the matter.

Oct 25, 2013

Obama’s tech expert becomes target over healthcare website woes

By Roberta Rampton and Sarah McBride

(Reuters) – Todd Park has gone from steering his healthcare information technology company through a blockbuster IPO to occasionally sleeping on a mat in his office while working to repair the troubled new U.S. government healthcare website.

Park, the chief technology officer for the White House and a top advisor to President Barack Obama, now finds himself among a handful of officials with targets on their backs as Republicans try to root out who is responsible for this month’s glitch-ridden rollout of Healthcare.gov.

Oct 17, 2013

EBay’s Omidyar and his ‘Next Adventure in Journalism’

SAN FRANCISCO (Reuters) – EBay Inc founder Pierre Omidyar has become the latest self-made tech baron to plunge into the struggling news industry – hot on the heels of Amazon.com Inc founder Jeff Bezos, who just paid $250 million for the Washington Post.

But unlike Bezos, the French-born Iranian American says he aims to build a new “mass media organization” from the ground up, and his first recruits are the journalists who exposed the U.S. government’s surveillance programs, using documents leaked by former spy agency contractor Edward Snowden.

Oct 17, 2013

Silicon Valley finds new ways to back tomorrow’s winners

SAN FRANCISCO (Reuters) – A group of high-flying Silicon Valley investors is betting that there is room for one more program that fosters early-stage companies.

This time, they are focused on the massive amounts of information generated in part by the Internet and known collectively as big data.

Oct 17, 2013

Online retailer Stitch Fix raises cash, tries to set itself apart

SAN FRANCISCO, Oct 17 (Reuters) – Stitch Fix said it has
raised $12 million as it tries to establish itself in what is
proving a tricky market: online retail sales.

While online sales rise every year, many entrants have a
tough time with the razor-thin profit margins and ability to
differentiate themselves from established players such as
Amazon.com Inc.

Oct 16, 2013

Ebay founder to launch independent mass-market news venture

SAN FRANCISCO (Reuters) – EBay Inc founder Pierre Omidyar on Wednesday said he is building an independent media organization covering news from sports to politics for mainstream readers, spearheaded by big names including ex-Guardian correspondent Glenn Greenwald.

Omidyar, the 46-year-old French-born Iranian-American who remains chairman of the e-commerce giant he founded, wrote in a blog post that he considered buying the Washington Post – which Amazon.com Inc founder Jeff Bezos eventually snapped up – but decided he wanted to build a news organization from the ground up.

Oct 13, 2013

Twitter pays engineer $10 million as Silicon Valley tussles for talent

SAN FRANCISCO (Reuters) – Among Twitter Inc’s highest-paid executives, Christopher Fry’s name stands out.

The senior vice president of engineering raked in $10.3 million last year, just behind Twitter Chief Executive Dick Costolo’s $11.5 million, according to Twitter’s IPO documents. That is more than the paychecks of executives such as Chief Technology Officer Adam Messinger, Chief Financial Officer Mike Gupta and Chief Operating Officer Ali Rowghani.

Oct 7, 2013

Airbnb says New York probe risks customers’ privacy

SAN FRANCISCO, Oct 7 (Reuters) – Airbnb, a red hot online
accommodations service, may have to disclose user data to the
government, possibly to the detriment of its customers’ privacy
and its own business prospects.

On Friday New York State Attorney General Eric Schneiderman
sent Airbnb a subpoena requesting host data from New York users
of the service, which connects vacationers and others with
people wishing to rent out their homes, apartments and other
living spaces to short-term guests.

Oct 4, 2013

Mario’s Tweets: Twitter celebrity name-dropping reflect novel IPO risk

SAN FRANCISCO (Reuters) – Celebrity chef Mario Batali landed on a new promotional platform this week, one that was regulatory rather than razzle-dazzle: the opening pages of Twitter’s 234-page document on its initial public offering.

In a prominently featured screen shot of tweets where the American chef offered cooking tips alongside British rock musician Gavin Rossdale, the company showcased the way people express themselves on the online messaging service.

Oct 3, 2013

Factbox: Who will get rich from Twitter’s IPO?

By Sarah McBride

(Reuters) – Just about everyone in Silicon Valley has dreamed of striking it rich with a well-timed investment. Analysts estimate that when Twitter debuts on public markets, its valuation will hit around $10 billion. Here is a list of the number of shares owned by some of the people and investment firms that will benefit the most from Twitter’s initial public offering:

Executive officers and directors:

Evan Williams 56,909,847 shares, or 12 percent. Williams was Twitter’s CEO until 2010, when current CEO Dick Costolo took the helm. He is now working on a publishing platform, Medium, which is dedicated to long-form content.